Trade Setup: Top 13 things to know before market opens on August 5, 2022
- Sensex fell 51.73 points or 0.09% to 58,298.80 while the Nifty was down by 6.15 points or 0.04% to 17,382.00
- Nifty or India VIX, rose 4.38% to 19.26 on Thursday
- The trends on SGX Nifty indicate a positive opening for the index in India
Indian equity benchmarks ended the day flat with negative bias after witnessing volatility on Thursday as market participants remained silent ahead of the Reserve Bank of India's monetary policy decision due on Friday.
The Nifty50 has formed a small positive candle on the daily chart with a long lower shadow, suggesting the making of a hanging man type pattern, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities. There is no indication of a reversal unfolding at the highs, he said.
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The Sensex fell 51.73 points or 0.09% to 58,298.80 while the Nifty was down by 6.15 points or 0.04% to 17,382.00 at close of trading on Thursday. The Sensex moved in a high and low band of 58,712.66 and 57,577.05. There were 17 stocks advancing against 13 declining stocks on the index. The Nifty traded in a range of 17,490.70 and 17,161.25. There were 23 stocks advancing against 27 stocks declining on the index.
The broader indices ended in green with the BSE mid-cap index increasing 0.29%, while small-cap index was up by 0.25%. On the sectoral front, Healthcare was up by 1.93%, IT up by 1.23%, TECK up by 1.05%, Metal up by 1.01% and Consumer Durables up by 0.68%, while Telecom down by 1.14%, Realty down by 1.11%, PSU down by 1.05%, Bankex down by 0.71% and Utilities down by 0.70% were the top losing indices on BSE.
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India VIX Index
Nifty or India VIX, a gauge of the market's expectation of volatility over the near term, rose 4.38% to 19.26 on Thursday.
The trends on SGX Nifty indicate a positive opening for the index in India with a 58 points gain. The Nifty futures were trading at 17,453.00 on the Singaporean Exchange around 07:00 hours IST.
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Support and Resistance levels
The key support level for the Nifty is placed at 17,199, followed by 17,015. If the index moves up, the key resistance levels to watch out for are 17,528 and 17,674, according to pivot charts.
The S&P 500 fell 3.23 points, or 0.1%, to 4,151.94.
The Dow Jones Industrial Average fell 85.68 points, or 0.3%, to 32,726.82.
The Nasdaq rose 52.42 points, or 0.4%, to 12,720.58.
The Russell 2000 index of smaller companies fell 2.47 points, or 0.1%, to 1,906.45.
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Asian markets ended mostly higher on Thursdau. The Nikkei 225 rose 0.69%, the Hang Seng rose 2.06%, the KOSPI Composite rose 0.47% and the Shanghai Composite rose 0.80%.
European markets ended mostly higher on Wednesday. France's CAC 40 was up by 0.60%, Germany’s DAX was up by 0.55% and London's FTSE 100 was up by 0.032%.
Major News Headlines
Adani Group to acquire Macquarie’s road portfolio for Rs 3,110 crore
The subsidiary company Adani Road Transport (ARTL) has entered into a definitive agreement to acquire Gujarat Road and Infrastructure Company (GRICL) and Swarna Tollway (STPL), for Rs 3,110 crore. ARTL will acquire 56.8% in GRICL and a 100% stake in STPL from Macquarie Asia Infrastructure Fund. The acquisition is subject to regulatory approval. The transaction is expected to close in September 2022.
CCPA fines Amazon, orders to recall 2,265 low-quality pressure cookers
The Central Consumer Protection Authority (CCPA), the country’s consumer watchdog, has imposed a fine of Rs 1 lakh on e-commerce major Amazon for selling pressure cookers in violation of mandatory standards. The CCPA has directed Amazon to notify consumers of 2,265 pressure cookers sold through its platform, recall the products and reimburse the amount to the buyers, and submit a compliance report in 45 days.
Mansi Shares & Stock Advisors Pvt Ltd bought 1,00,000 shares in Agni Green Power Limited at Rs 30.30 per share on the Nse.
Quant Capital Holdings Pvt Ltd sold 7,00,000 shares in Eros Intl Media Limited at Rs 24.63 per share on the Nse.
Vistra Itcl India Limited sold 27,68,097 shares in Future Enterprises Limited at Rs 2.46 per share on the Nse.
Vistra Itcl India Limited sold 36,14,668 shares in Future Retail Limited at Rs 5.25 per share on the Nse.
Abdul Azees bought 36,00,000 shares in KBC Global Limited at Rs 2.50 per share on the Nse.
Ivanhoe Op India Inc sold 43,84,464 shares in Macrotech Developers Limited at Rs 1047.21 per share on the Nse.
Mahtani Navin H sold 1,43,500 shares in Patel Integrated Logistic Limited at Rs 14.81 per share on the Nse.
Foreign institutional investors (FIIs) bought shares worth a net Rs 1,474.77 crore, whereas domestic institutional investors (DIIs) sold shares worth a net Rs 46.79 crore on August 4, as per provisional data available on the NSE.
Escorts has been placed under the F&O ban for August 5. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.